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03/08/2004 <br />ORIGINAL <br />RESOLUTION NO. 14574 <br />RESOLUTION OF INVENTION TO APPROVE AN AMENDMENT TO <br />CONTRACT BETWEEN THE BOARD OF ADMINISTRATION <br />CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE <br />CITY COUNCIL OF REDWOOD CITY <br />WHEREAS, the Pubic Employees' Retirement Law permits the participation of <br />public agencies and their employees in the Pubic Employees' Retirement System by <br />the execution of a contract, and sets forth the procedure by which said public agencies <br />may elect to subject themselves and their employees to amendments to said Law; and <br />WHEREAS, one of the steps in the procedures to amend this contract is the <br />adoption by the governing body of the public agency of a resolution giving notice of its <br />intention to approve an amendment to said contract, which resolution shall contain a <br />summary of the change proposed in said contract; and <br />WHEREAS, the following is a statement of the proposed change: <br />To provide Section 21362.2 (3% @ 50 Full formula) for local police <br />members only. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL AS <br />FOLLOWS: <br />1. That the City Council of Redwood City hereby gives notice of intention to <br />approve an amendment to the contract between Redwood City and the Board of <br />Administration of the Public Employees' Retirement System, a copy of said amendment <br />being attached hereto, as an "Exhibit" and by this reference made a part hereof. <br />tty /Reso /Reso.1452 14574 <br />031104 Muff # 904 <br />